Technological advancements have revolutionized the healthcare industry by providing various healthcare solutions with accuracy. MEMS devices in medical applications are amongst these technological advancements. MEMS-embedded medical equipment are efficient to measure, diagnose and treat various medical conditions such as blood pressure, respiratory rate, body temperature disorders and others. MEMS-based medical devices are miniaturized and help to increase efficiency of various medical devices. In addition, rise in demand for lab automation for increased efficiency would also trigger the growth of this market. Moreover, increased funding for this market is also expected to boost the growth of MEMS embedded devices. Despite all these advantages, lack of testing standardization and delay in FDA approvals would hinder the future market growth. The MEMS in medical applications market was valued to be USD 1.8 billion in 2012 and is expected to grow at a CAGR of 20.2% from 2013 to 2019.
MEMS-based medical devices include surgical, therapeutic, diagnostic and monitoring equipment. MEMS-embedded diagnostic equipment accounts for the largest market amongst the total MEMS medical devices market. The market for MEMS-embedded diagnostic devices in medical applications was valued at more than USD 600 million in the year 2012 and is expected to have a CAGR of over 15%.
MEMS-based medical devices are composed of various sensors which include pressure, temperature, flow, accelerometer, optical image, microdispensers for drug delivery, microfluidic chips and silicon microphones. The pressure sensor accounted to have the largest market; however, micro dispensers market for drug delivery is anticipated to have the highest growth during the forecast period. The MEMS-based medical devices market by end users includes hospitals, healthcare research and home healthcare, where hospitals accounted for the largest market.
Geographically, the North American region constituted the largest market for MEMS-based medical devices market in year 2012; however, Asia-Pacific is predicted to foresee the highest growth rate of over 20% from 2013 to 2019. This growth has been attributed to increase in diabetic population and rising disposable incomes coupled with change in lifestyle. In addition, economic development and healthcare reforms would increase the government funding in its intensive R&D and would trigger the growth of this market in Asia-Pacific region.
The major players of MEMS in medical applications market include Honeywell Sensing and Control, Analog Devices Inc., GE Measurement and Control, FreeScale, Philips Healthcare amongst other significant players.
Micro-Electro-Mechanical Systems, MEMS is defined as devices made up of miniaturized mechanical and electromechanical elements using micro fabrication techniques. MEMS comprises of miniaturized structures such as sensors, actuators and microelectronics. The prime elements are micro sensors and micro actuators. These are also called as transducers which help in conversion of one form of the energy into another. Technological advances have led to development of a synergistic relation between the unrelated fields such as biology and microelectronics. MEMS finds its application in medical sector especially diagnosis and biotechnology. There has been a paradigm shift of patient taking treatment from hospital to home care.
Rise in healthcare expenditure compounded by geriatric population is driving the demand for portable medical diagnostic devices. In addition, need for rapid diagnosis coupled with minimum turnaround time has compelled medical device manufacturers to focus on providing a single platform for multiple diagnostic tests. By leveraging MEMS, manufacturers can produce significantly smaller, low-power consumption connectors that deliver high performance than larger components used in devices. Governments across the globe have realized the potential of nanotechnology and MEMS in healthcare and are supporting the growth of this industry through significant funding. This has overall boosted the confidence of the entire value chain of MEMS industry right from foundries to the final product.
This report covers market estimation of MEMS in healthcare applications in terms of value (USD million) for the period of 2013-2019, considering 2012 as the base year for calculation. In addition, the current market dynamics including the drivers, restraints, trends and recent developments have been captured throughout the report. The MEMS market in healthcare covers applications into major segments such as medical devices, biotechnology, therapeutics and diagnostics sector. We have done an in-depth analysis on further applications of MEMS sensors market in medical and diagnostic devices.
The geographic chapter spans the major regions including North America, Europe, Asia and RoW (Rest of the World). Similarly, market share analysis of the major MEMS manufacturers has been captured in our competitive landscape chapter.
Some of the significant players of this market are STMicroelectronics, GE Sensing and Control, Honeywell sensing, Analog, Measurements Inc and others. These market players are profiled on the basis of attributes such as company overview, recent developments, strategies adopted by the market leaders to ensure growth, sustainability, financial overview and recent developments.
The MEMS in Medical Applications market is segmented as follows:
MEMS in Medical Applications Market, by Applications
- Diagnostic Devices
- Monitoring Devices
- Surgical Devices
- Therapeutic Devices
MEMS in Medical Applications Market, by Type of Sensors
- Pressure Sensors
- Temperature Sensors
- Flow Sensors
- Optical Image Sensors
- Micro dispensers for drug delivery
- Microfluidic Chips
- Silicon Microphones
MEMS in Medical Applications Market, by End Users
- Home Healthcare
- Healthcare Research
MEMS in Medical Applications Market, by Geography
- North America
- Asia Pacific
- Rest of the World (RoW)